Massachusetts Financial Services Co. MA Boosts Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Massachusetts Financial Services Co. MA grew its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,640,632 shares of the company’s stock after acquiring an additional 791,506 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.09% of DigitalBridge Group worth $51,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DBRG. New South Capital Management Inc. boosted its holdings in shares of DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after purchasing an additional 1,125,549 shares in the last quarter. Wafra Inc. boosted its stake in DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after buying an additional 1,020,409 shares in the last quarter. Dimensional Fund Advisors LP grew its position in DigitalBridge Group by 54.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after acquiring an additional 952,408 shares during the last quarter. Point72 Asset Management L.P. raised its position in DigitalBridge Group by 125.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock worth $22,320,000 after purchasing an additional 906,297 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in DigitalBridge Group in the first quarter worth $9,661,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DBRG. Truist Financial dropped their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.13.

DigitalBridge Group Trading Up 3.0 %

Shares of DBRG stock opened at $12.33 on Monday. The company’s fifty day moving average price is $14.30 and its 200-day moving average price is $13.56. The stock has a market cap of $2.15 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.11 and a beta of 1.94. DigitalBridge Group, Inc. has a 12 month low of $11.07 and a 12 month high of $20.99.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s payout ratio is currently 5.48%.

DigitalBridge Group Company Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.